Chase Business Loans Review

Chase Business Loans is a business financing offering by Chase Bank, based in New York, NY. Founded in 1877, Chase Bank offers access to business loans in 23 states across the USA.

What are Chase Business Loans’s rates?

Chase Business Loans offers a business financing product but they do not disclose their rates.

Does Chase Business Loans charge an origination fee?

Yes, Chase Business Loans charges a loan origination fee.

What limitations does Chase Business Loans set on the purpose of the loan?

Chase Business Loans considers loan applications for business purposes, such as:

• Business Debt Refinance
• Equipment Purchase
• Lease Improvement
• New Location
• Product or Service Expansion
• Working capital

What types of business loans does Chase Business Loans offer?

Not all business loans are made equal. The type of loan you choose will determine the range of rates and terms you receive. Chase Business Loans provides access to the following business loan types:

• Unsecured term loans
• Lines of Credit
• SBA Loans
• Merchant Cash Advances

Does Chase Business Loans charge prepayment fees?

No, Chase Business Loans does not charge prepayment fees. This means you will not have to pay additional fees if you decide to pay the loan off early.

How much can you borrow from Chase Business Loans?

Loan amounts start at $5,000.

What do you need to qualify for Chase Business Loans?

Chase Business Loans does not require borrowers to have been in business for a minimum number of years. Businesses don't have to meet a minimum annual revenue to be considered.

The Military Lending Act (32 C.F.R. § 232) prohibits lenders from charging service members more than 36% APR on credit extended to covered borrowers. APRs for the Chase Business Loans product fall outside of the MLA limits, and as a result, the product cannot be issued to these applicants. Active duty service members and their covered dependents are considered “covered borrowers" under the Military Lending Act.

U.S. citizens are, of course, eligible for the services offered by Chase Business Loans. Permanent resident / green card holders are also eligible to apply.

To qualify, applicants may need to provide the following documentation:

• Proof of income
• Proof of identity